Peltz, Ahead Of Proxy Vote, Taunts E.I. DuPont De Nemours & Co.

Activist shareholder Henry Peltz made perhaps a final taunt at E I DuPont De Nemours Co.

Wednesday ahead of a May 13 proxy vote. http://www.dupontcanbegreat.com/wp-content/uploads/2015/05/Trian-Open-Letter-Press-Release-5-6-15.pdf Observers have recently speculated that a settlement remains likely, but Peltz's Trian Fund Management L.P. on Wednesday reprised a litany of complaints against the science and technology conglomerate. "Now is the time to bring change," Peltz said in a letter to shareholders. Peltz, who wants to break up DuPont, has proposed a slate of four directors, including himself, for DuPont's 13-member board. The proxy advisory service Egan-Jones Ratings Co. on Tuesday backed Trian's full slate of directors. Earlier, the advisory firm International Shareholder Services last week recommended two of Peltz's four candidates, while Glass Lewis backed only one of the activist contenders. "There will be a deal cut before the May 13 vote," Wesley Hall, of Kingsdale Shareholder Services, told the New York Post last week. http://nypost.com/2015/04/27/nelson-peltz-wins-bid-to-gain-dupont-board-seats/ Martin Lipton of the law firm Wachtell Lipton Rosen & Katz suggested that a settlement may be DuPont's best option, according to the New York Times. http://www.nytimes.com/2015/05/02/business/duponts-battle-with-nelson-peltz-may-confound-shareholders.html Peltz, whose Trian Fund holds about a 2.7 percent stake in Dupont, said the stock could be worth $120 a share by 2017. "The DuPont Board has not been an effective fiduciary for stockholders," according to Peltz. DuPont said Monday that Peltz' breakup plan would carry an upfront cost of $4 billion and an ongoing annual negative impact of $1 billion. http://www.sec.gov/Archives/edgar/data/30554/000110465915033785/a15-7546_11defa14a.htm